US provider of food, agricultural and risk management products, and the USA’s second largest beef processor, Cargill has posted net earnings of $917 million for the first quarter of fiscal 2008 ended August 31, an astounding 83% improvement on the $500 million reported for the same period a year ago.

Commenting on the significant improvement chairman Greg Page, said, “Cargill is off to a strong start in the new fiscal year. June through August was an extraordinary period, with growing demand for agricultural commodities against tightening supplies and a long anticipated but dramatic reduction in liquidity and leverage in financial markets. All of this sparked a new level of market volatility."

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